According to Moody Insurance Worldwide, a loss run report is a detailed history of claims made on each insurance policy. New insurance buyers must submit a run loss report to their prospective insurance company even if they have no prior claims. These reports are free and made readily available by all insurance companies.Know More
According to Zeiler Insurance, a standard run loss report includes the name of the insured person, the policy number, each claim date, the amount of money paid by the previous insurance company and a brief description of the claim. Most loss runs list claims from the past five years of coverage or, if the insurance policy is younger than five years, the losses collected over the entire period of coverage.
The amount and nature of claims listed on a loss run report greatly affects the outcome of an application for insurance coverage through a new company as well as the policy premium. Moody Insurance Worldwide describes run loss reports as necessary information for insurance companies to have when it comes to insuring a new customer. Without a loss run report, insurance companies are unable to rule out the possibility of a high-risk applicant with a history of frivolous claims.Learn more about Accounting
The purpose of a non-conformance report is to document the particulars about a deviation from expectations that a quality audit or some other type of process review. The reason behind having this report is to provide a definition of an existing problem in a clear, logical and concise way so that management takes steps to implement necessary changes.Full Answer >
The main reason why companies release annual reports is to relay information to shareholders about the company's finances during the year. In most countries, annual reports are mandatory.Full Answer >
According to the Houston Chronicle, a sales analysis report is a report that shows the trends that occur in a company's sales volume over time. It shows whether or not a company's sales are increasing or decreasing.Full Answer >
When creating an expense report template, first consider all the expense reporting rules required by the government or company requesting the report. Then, create a place for each required item and category to be entered in word processing, spreadsheet or data management software.Full Answer >